Global cues, monsoon deficit reports drag Nifty below 5400
16 Jun 2011
Indian equity benchmarks closed at three-week low on Thursday on reports that there would be monsoon deficit in the country. However, there was a bit of relief after clarification from Meteorological Department. Even the fall in global markets on Greek's debt problems added more pressure on the market.
But today's credit policy was completely non event for the market as 25 basis points hike in key rates was on the expected lines though RBI says, inflation worries persist.
The 50-share NSE Nifty shed 50.75 points, to close at 5,396.75 and the 30-share BSE Sensex fell 146.36 points, to end at 17,985.88.
About 2.5 shares declined for every one share advanced on National Stock Exchange.
Sensex slips below 18K; RIL, TCS, Bharti, L&T tumble
Equity benchmarks extended sell-off on the back of further fall in European markets, reacting to Greek's debt worries. The 50-share Nifty has broken the 5400 mark - at three-week low, dragged down by heavyweights like TCS, Bharti Airtel, Reliance Industries, Infosys, Wipro, L&T and HDFC Bank, which fell 1-3%.
